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Ethiopian Potash Increases Drilling Rate on Danakil Project

Ethiopian Potash Corp. announced that it had completed nine holes, and was currently drilling the tenth hole of its ongoing exploration program.

The company said that all of the holes had intersected the regional Danakil potash formation, and all holes intersected potash mineralization.

The holes were drilled along the western edge of the Danakil and targeted the on-strike continuation of the Musley potash deposit about 10 km south of the company's SW discovery area.

Ethiopian Potash Corp is now in the process of constructing drill-site access and seismic roads on the floor of the Danakil before the dry season. One of the roads will be extended across the Danakil to provide access to the eastern portion of the property, and the potash discoveries at Colluli.

Based on historic and recent drill results on the adjacent property the Company expects to intersect potash mineralization in drill holes at depths from near surface to approximately 100 meters depth.

The company announced on August 22 that it had completed drilling five holes with total drilling through 1,000 metres to date of the planned 15,000 metre diamond drill programme on its 481km² Danakil Project.

And a week later Ethiopian Potash began trading on the OTC market's prestigious tier, OTCQX International.

"The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors," R. Cromwell Coulson, president and CEO of OTC Markets Group, had said.  

Source: MarketWatch